David Weinreb to Remain at Howard Hughes for Another Decade

Howard Hughes Corp. entered into a new employment agreement with David R. Weinreb, the company’s Chief Executive Officer. The Dallas-headquartered company, which develops mixed-use properties (with residential and retail components) throughout the United States, struck a 10-year agreement with Weinreb.

Weinreb solidified his commitment to Howard Hughes Corp. with the acquisition of 1,965,409 million warrants, at a strike price of $124.64, and a term of six years at fair-market value, by making a payment of $50 million to the company.

“I am very pleased that HHC has secured David’s visionary leadership through the coming decade,” said William Ackman, the company’s Chairman. “David is once again making a large investment in the company, strengthening his already strong alignment with our shareholders. David’s proven track record over the last six years at the helm of HHC is a testament to David’s leadership and ability to assemble a world-class team.”

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